Popular cryptocurrency app Crypto.com was able to double its userbase in only four months, and has now passed the 10 million users mark, the firm said in a blog post on 24 February.
According to Crypto.com’s co-founder and CEO, Kris Marszalek, the app has shown “consistent double digit growth rates month-on-month” over the past two years, regardless of the conditions of the crypto market. The app — that lets you buy, earn and spend crypto all in one place — also experienced a significant growth in its userbase over the last four months, jumping from 5 million users to more than 10 million in that time. Marszalek commented on the recent growth in numbers, saying:
“In 2020 we publicly announced our strategic goal: 100m users by 2025. Given the accelerated growth, we are now expecting to reach 100m users by 2023, a full two years ahead of schedule.”
The app has not only experienced an increase in user numbers, but also in revenue, which saw a 10x growth in 2020 alone. Marszalek further revealed the company had to invest “heavily in growing our team” — which jumped from 250 to now over 900 employees globally — in order to serve Crypto.com’s ever increasing userbase. Marszalek also said:
“We will continue to deliver against our product roadmap, serving critical use cases of payments, trading and finance while making strategic investments in developing DeFi, and NFT solutions.”
The announcement was made only a month before Crypto.com officially releases its Crypto.org Chain mainnet, scheduled for a 25 March launch. Earlier this month the firm revealed it will be burning 70 billion of its native CRO token in order to further decentralize the new blockchain.
Last May, the firm announced that its MCO Visa crypto-to-fiat debit card had become the “most widely available crypto card in the world”, covering all 27 E.U. member states, as well as Switzerland, Iceland, Norway and the U.K.. Later in 2020, Crypto.com also became one of the few crypto exchanges to receive approval for two financial licenses by the Maltese government, the Financial Institution License and a Class 3 Virtual Financial Assets (VFA) License.